http://money.cnn.com/2015/08/03/investing/puerto-rico-default/Damn, I can't believe this is happening so close, it's unbeliable but it was unavoidable. 58 million of unplayable fee. I really hope these guys don't get all of their money stolen. Only if we were in 2025 they could have had a chance with Bitcoin we are still on the very early days.
What's unbelievable about it? These kind of debt systems are bound to fail because they're meant to be unpayable, but once they realize they can't keep up the repayments thats when the shit hits the fan but is good for whoever loaned them the money in the first place as they'll just start taking other assets and property.